Alexander & Baldwin, Inc. (NYSE:ALEX) Q1 2023 Earnings Conference Call May 4, 2023 5:00 PM ET

Company Participants

Steve Swett - IR

Chris Benjamin - CEO

Lance Parker - President and COO

Clayton Chun - CFO

Conference Call Participants

Alexander Goldfarb - Piper Sandler

Mitch Germain - JMP Securities

Operator

Good afternoon, and welcome to the Alexander Baldwin First Quarter 2023 Earnings Conference Call. All participants will be in a listen-only mode for the duration of the call. [Operator Instructions]. Please note that this event is being recorded today.

I would now like to turn the conference over to Steve Swett of Investor Relations. Please go ahead.

Steve Swett

Thank you. Aloha, and welcome to our call to discuss Alexander & Baldwin's first quarter 2023 Earnings. With me today for our earnings call are A&B's Chief Executive Officer, Chris Benjamin; our President and Chief Operating Officer, Lance Parker; and our Chief Financial Officer, Clayton Chung. The company has decided to forgo a presentation this quarter. During our call, please refer to our Q1 2023 supplemental information available on our website at investors.alaxanderbaldwin.com.

Before we commence, please note that statements in this call that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding possible or assumed future results of operations, business strategies, growth opportunities and competitive positions. Such forward-looking statements speak only as to the date of the statements were made and are not guarantees of future performance. Forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause actual results and the timing of certain events to differ materially from those expressed in or implied by the forward-looking statements.

These factors include, but are not limited to, prevailing market conditions and other factors related to the company's REIT status and the company's business, results of operations, liquidity and financial condition and the evaluation of alternatives by the company related to its Materials & Construction business as well as other factors discussed in the company's most recent Form 10-K, Form 10-Q and other filings with the SEC.

The information on this call should be evaluated in light of these important risk factors. We do not undertake any obligation to update the company's forward-looking statements. Management will be referring to non-GAAP financial measures during our call today. Please refer to our statement regarding the use of these non-GAAP measures and reconciliations included in our first quarter 2023 supplement. Chris will open up today's call. He will then turn the call over to Lance for an update on our real estate operations, and then Clayton will discuss financial matters. Chris will return for some closing remarks, where upon we will open it up for your questions.